Active Gas & Oil Rig Counts Decline in U.S. and Canada

The U.S. active rotary rig count, an indicator of oil country tubular goods demand, declined this week, according to oilfield services company Baker Hughes. The number of active U.S. rigs fell by 18 to 868, with oil rigs down 14, gas rigs down 5, and miscellaneous rigs up 1. Compared to this time last year, the 868 count is down 185 rigs, with oil rigs down 147, gas rigs down 38, and miscellaneous rigs unchanged. See the first graph below for a history of active U.S. rig counts.

The Canadian rig count also declined this week, down by 15 to 119 rigs, with oil rigs down 11 and gas rigs down 4. Compared to last year, the 119 count is down 78 rigs, with oil rigs down 53 and gas rigs down 25. See the second graph below for a history of active Canadian rig counts.